Shenandoah Telecommunications Co
SHEN- Exchange
- Nasdaq
- Industry
- Telephone Communications (No Radiotelephone)
- SEC CIK
- 0000354963
In the last 90 days, Shenandoah Telecommunications Co insiders filed 3 open-market purchases and 0 sales; 184 institutions reported holding it in 13F filings for Q2 2026, worth $598.0M in total; Southeastern Asset Management (Longleaf) is the only superinvestor holding it.
- Currency
- USD
- Source
- SEC XBRL data (10-K, 10-Q, 20-F, 40-F)
- Updated
- Oct 29, 2026, 1:11 AM ET
Revenue flow, FY2025
Where the revenue went in FY2025, from the income statement below. Green is profit; orange is costs, expenses and taxes. Percentages are shares of revenue; hover over a band or a bar for the exact amount.
Net loss for FY2025: $32.9M (9.2% of revenue).
Income statement
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 26, 2026 | Feb 20, 2025 | Feb 21, 2024 | Feb 22, 2023 | Feb 28, 2022 |
| Revenue | $357.9M | $328.1M | $287.4M | $267.4M | $245.2M |
| Operating expenses | – | – | $277.8M | – | – |
| Selling, general and administrative | $118.2M | $115.2M | $103.6M | $92.4M | $82.5M |
| Operating income | -$23.2M | -$28.6M | $9.62M | -$7.96M | -$2.43M |
| Interest expense | $25.4M | $15.9M | $8.40M | – | $2.60M |
| Income tax | -$8.91M | -$9.67M | $2.97M | -$927.0K | -$1.69M |
| Net income | -$32.9M | $193.8M | $8.04M | -$8.38M | $998.8M |
| EPS, basic | $-0.71 | $3.54 | $0.16 | $-0.17 | $19.97 |
| EPS, diluted | $-0.71 | $3.54 | $0.16 | $-0.17 | $19.92 |
| Weighted shares, basic | 55.1M | 53.7M | 50.4M | 50.2M | 50.0M |
| Weighted shares, diluted | 55.1M | 53.7M | 50.7M | 50.2M | 50.1M |
| Margins and growth | |||||
| Operating margin | -6.5% | -8.7% | 3.3% | -3.0% | -1.0% |
| Net margin | -9.2% | 59.1% | 2.8% | -3.1% | 407.3% |
| Revenue growth, year over year | +9.1% | +14.2% | +7.5% | +9.0% | +11.1% |
| Net income growth, year over year | −117.0% | +2,311.3% | – | −100.8% | +688.2% |
Balance sheet
Each column is one fiscal year, newest first.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 26, 2026 | Feb 20, 2025 | Feb 21, 2024 | Feb 22, 2023 | Feb 28, 2022 |
| Cash and equivalents | $27.3M | $46.3M | $139.3M | $44.1M | $84.3M |
| Accounts receivable | $31.5M | $29.7M | $19.8M | $20.6M | $22.0M |
| Total current assets | $97.4M | $94.5M | $176.1M | $128.6M | $166.4M |
| Property, plant and equipment | $1.60B | $1.44B | $879.5M | $687.6M | $554.2M |
| Goodwill | $67.5M | – | – | – | – |
| Intangible assets | $89.4M | $157.7M | $81.1M | $81.5M | $89.8M |
| Total assets | $1.91B | $1.74B | $1.21B | $977.7M | $890.7M |
| Accounts payable | $61.4M | $57.8M | $53.5M | $49.2M | $28.5M |
| Short-term debt | $0 | $9.20M | $7.09M | $648.0K | $0 |
| Total current liabilities | $108.5M | $114.6M | $98.4M | $96.4M | $67.3M |
| Long-term debt | $628.2M | $407.7M | $292.8M | $74.3M | – |
| Shareholders' equity | $880.8M | $918.6M | $652.7M | $638.0M | $642.3M |
Cash flow statement
Each column is one fiscal year, newest first. Free cash flow is operating cash flow minus capital expenditures.
| Line item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|
| Period end | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
| Filing | 10-K | 10-K | 10-K | 10-K | 10-K |
| Reported | Feb 26, 2026 | Feb 20, 2025 | Feb 21, 2024 | Feb 22, 2023 | Feb 28, 2022 |
| Operating cash flow | $101.0M | $62.6M | $113.8M | $74.9M | -$250.9M |
| Capital expenditures | $358.9M | $319.1M | $256.6M | $189.6M | $160.1M |
| Free cash flow | -$257.9M | -$256.5M | -$142.8M | -$114.7M | -$411.0M |
| Depreciation and amortization | $129.7M | $96.9M | $65.5M | $68.9M | $55.2M |
| Stock-based compensation | $9.59M | $9.84M | $10.0M | $8.53M | $3.41M |
| Dividends paid | $6.45M | $5.80M | $4.52M | $3.99M | $940.3M |
| Share buybacks | – | – | – | – | $0 |
| Investing cash flow | -$294.7M | -$339.4M | -$236.7M | -$184.2M | $1.78B |
| Financing cash flow | $195.6M | $183.9M | $218.1M | $69.0M | -$1.64B |
| Net change in cash | $1.93M | -$93.0M | $95.2M | -$40.3M | -$111.1M |
| Ratio | |||||
| Stock-based compensation, % of revenue | 2.7% | 3.0% | 3.5% | 3.2% | 1.4% |
Shares outstanding
Common shares outstanding as stated on the cover of each 10-K and 10-Q. The date is the cover date, not the period end; a rising count means dilution.
| Cover date | Shares outstanding | Change in a year | Filing |
|---|---|---|---|
| Oct 22, 2026 | 55.4M | +0.9% | SEC |
| Jul 22, 2026 | 55.4M | +0.9% | SEC |
| Apr 24, 2026 | 55.3M | +0.8% | SEC |
| Feb 23, 2026 | 55.3M | +1.2% | SEC |
| Oct 24, 2025 | 54.9M | +0.5% | SEC |
| Jul 24, 2025 | 54.9M | +0.6% | SEC |
| Apr 24, 2025 | 54.9M | +0.6% | SEC |
| Feb 13, 2025 | 54.7M | +8.8% | SEC |
Notes and known gaps
How these numbers are put together, and what they can't tell you.
- Numbers come from the XBRL data in each period's original 10-K, 10-Q, 20-F or 40-F, or its amendment. They are shown as filed: later filings don't restate earlier periods here.
- Reported is the filing date of the first 8-K with Item 2.02 (results of operations) after the period ended, no later than the 10-Q or 10-K and within 120 days. Companies that release results only in the 10-Q, and foreign companies, which use Form 6-K, have none.
Known gaps
- Foreign companies that file Form 20-F or 40-F have annual statements only: their quarterly results are furnished on Form 6-K, which has no XBRL data.
- EPS and share counts are as reported at the time, not adjusted for later stock splits.
- For ADRs, EPS is per ordinary share, not per ADS (one TSMC ADS is five ordinary shares).
- For banks, revenue may be interest income only, depending on how the bank tags its filings; cost of revenue and gross profit are usually blank.
- Companies with several share classes, such as Berkshire Hathaway, may have no EPS and no cover share count.
- Depreciation and amortization is missing for some companies that report it under their own XBRL tags.